Ibotta, Inc. (NYSE:IBTA) Receives $32.57 Consensus PT from Brokerages

Shares of Ibotta, Inc. (NYSE:IBTA) have received a consensus recommendation of “Reduce” from the ten analysts that are currently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and one has given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $32.5714.

IBTA has been the subject of several research analyst reports. Evercore ISI lowered their price target on shares of Ibotta from $38.00 to $32.00 and set an “in-line” rating for the company in a report on Thursday, November 13th. The Goldman Sachs Group dropped their price objective on shares of Ibotta from $26.00 to $23.00 and set a “sell” rating for the company in a report on Thursday, November 13th. Bank of America decreased their price target on shares of Ibotta from $24.00 to $22.00 and set an “underperform” rating for the company in a research report on Thursday, November 13th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Ibotta in a report on Monday, December 29th.

Hedge Funds Weigh In On Ibotta

A number of hedge funds and other institutional investors have recently made changes to their positions in IBTA. CWM LLC raised its holdings in Ibotta by 225.2% during the 2nd quarter. CWM LLC now owns 943 shares of the company’s stock worth $35,000 after purchasing an additional 653 shares during the last quarter. Private Wealth Asset Management LLC bought a new position in Ibotta during the second quarter worth $37,000. Quantbot Technologies LP acquired a new position in Ibotta in the second quarter valued at $66,000. Farther Finance Advisors LLC boosted its position in Ibotta by 47,920.0% during the fourth quarter. Farther Finance Advisors LLC now owns 2,401 shares of the company’s stock valued at $55,000 after acquiring an additional 2,396 shares during the last quarter. Finally, Jones Financial Companies Lllp acquired a new stake in Ibotta during the 1st quarter worth about $161,000.

Ibotta Price Performance

Shares of IBTA opened at $22.59 on Friday. The firm has a 50 day simple moving average of $22.76 and a two-hundred day simple moving average of $27.92. Ibotta has a one year low of $20.60 and a one year high of $76.00. The company has a market cap of $529.51 million, a P/E ratio of 9.33 and a beta of -0.89.

Ibotta (NYSE:IBTA) last issued its earnings results on Wednesday, November 12th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.34 by $0.22. The firm had revenue of $83.26 million during the quarter. Ibotta had a return on equity of 20.94% and a net margin of 22.92%.The firm’s revenue was down 15.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.94 EPS.

About Ibotta

Ibotta (NYSE: IBTA) is a Denver‐based mobile commerce platform that connects consumers, retailers and brands through a unified cash-back rewards experience. Users access the Ibotta mobile app or browser extension to unlock rebates on everyday purchases, redeemable on groceries, retail goods, travel bookings and digital services. The platform integrates with major supermarket chains, big‐box retailers and online merchants, enabling shoppers to earn automatic cash-back both in physical stores and across e-commerce channels.

Founded in 2012 by co‐founder and CEO Bryan Leach, Ibotta has evolved from a simple rebate app into a comprehensive performance marketing partner for consumer goods companies.